Good afternoon friends today I want to bring you a brief update on the real estate market from the month of May 2021. We as an Association of Saskatoon Realtors listed 1015 properties onto the market, approximately 34% more than the 755 listings last May.
We also sold 576 properties which was 77% higher than the 326 sold last May. Year-to-date sales in Saskatoon increased by 84.5% over last year, increasing from 1,261 to 2,326. The average selling price in the month of May was $386,578: 8% higher than the $359,304 average price last May.
At present there are 1591 homes available for sale in Saskatoon which is 4% more than a year ago. Of those 1591 homes, 860 are single family homes and 731 are condominiums.
It took an average of 34 days for a home to sell in May, 14 days fewer than May last year.
The Saskatoon real estate market still favors sellers, it has significantly outperformed last year’s market. The number of new listings coming onto the market has increased, with 1015 new properties brought onto the market in May. That was 260 more homes than last May. While at the same time we have an increasing number of sales in most months (278 in January, 352 in February, 570 in March, 550 in April and 576 in May) indicating a strong demand from active buyers. The number of homes sold year to date has increased approximately 84% an increase of 1065 homes. The average sale price of a home this May is $386,578 more than 7% higher than the average home sale price one year ago.
If you have some questions about real estate in Saskatoon, are considering buying or selling a home please give me a call. I would be pleased to help you get the highest value for the sale of your home.